Loss of Faith in Insurance Providers Would Affect Sales, Advocates Say Insurance agents, brokers and regulators should be aware that when it comes to insurance, consumers are concerned with such issues as the use of credit scores in determining rates, …
Reforms to the Texas insurance regulatory system put in place by Senate Bill 14 in 2003 are under attack by a coalition of state lawmakers who have filed bills to, among other things, return the rate setting process for personal …
The National Association of Insurance Commissioners (NAIC) has adopted a proposal to review the use of credit-based insurance scoring. The NAIC said it will convene a public hearing to take testimony on how the insurance industry uses credit scores, what …
Reforms to the Texas insurance regulatory system put in place by Senate Bill 14 in 2003 are under attack by a coalition of state lawmakers who have filed bills to, among other things, return the rate setting process for personal …
Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner Ken Ross said he has disapproved rate filings for seven insurers …
Insurance trade groups have come out swinging against Michigan Gov. Jennifer Granholm’s call for auto insurers to freeze rates until lawmakers can enact some of the reforms in a report by the state’s insurance consumer advocate, Melvin Hollowell. The trade …
The Florida Office of Insurance Regulation will hold a public hearing this morning in Tallahassee about the use of credit scoring, credit history and credit models by insurers in the underwriting and setting of rates. The OIR said that five …
The North Dakota Senate last week killed legislation (SB 2330) that would have banned insurers from using credit information in underwriting and rating. On Feb. 2, the Senate Industry, Business and Labor Committee voted do not pass on SB 2330 …
Michigan’s insurance consumer advocate is charging that drivers are paying a high cost for years of state deregulation of insurance and record insurance company profits. Gov. Jennifer Granholm has threatened penalties for any insurance carriers that do not go along …
The insurance industry is not taking the recent attacks by Michigan Gov. Jennifer Granholm and the state consumer advocate lightly. Insurance trade groups have come out swinging against Granholm’s call for a freeze on auto insurance rates until lawmakers can …
